Italian asset manager buys stake in Iranian rival:
"An Italian asset manager has become the first foreign investment group to buy a stake in an Iranian financial company, amid threats by US President Donald Trump to withdraw his endorsement of the nuclear agreement which opened the country to inward investment. Azimut, a €48bn group headquartered in Milan, is to acquire 20 per cent of Mofid Entekhab, an Iranian asset manager, for an undisclosed sum. “We were looking for an opportunity to invest in a very interesting market. Iran is a great story,” said Sergio Albarelli, chief executive of Azimut."
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